https://www.taxtmi.com/caselaws?id=402494 The Tribunal allowed the appeal challenging the final assessment order under the Income Tax Act for the assessment year 2015-16. The dispute centered on downward adjustments in international transactions with associated enterprises and the imputation of interest on overdue receivables. The Tribunal ruled in favor of the appellant, stating that under the TNMM method, notional interest costs should be included in the net margin, eliminating the need for separate adjustments on overdue receivables. Consequently, the Tribunal directed the Assessing Officer to delete the upward adjustment on overdue receivables from associated enterprises. en-us Mon, 28 Dec 2020 00:00:00 +0530 Tue, 05 Jan 2021 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402494 The Tribunal allowed the appeal challenging the final assessment order under the Income Tax Act for the assessment year 2015-16. The dispute centered on downward adjustments in international transactions with associated enterprises and the imputation of interest on overdue receivables. The Tribunal ruled in favor of the appellant, stating that under the TNMM method, notional interest costs should be included in the net margin, eliminating the need for separate adjustments on overdue receivables. Consequently, the Tribunal directed the Assessing Officer to delete the upward adjustment on overdue receivables from associated enterprises. Case-Laws Income Tax Mon, 28 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402494